by Kris Sayce on March 2, 2010
Before we get on to today’s Money Morning, this…
“The 2010 Walkley Award goes to… Jason Clout, for the Australian Financial Review’s ‘Rear Window’ column.”
That would be the result if your editor had, a) any influence over the award, and b) any interest in having any influence over the award.
In last Friday’s Money Morning we wrote:
“Let’s see if Peter Martin and the other mainstream journos have balls big enough to take on the might of Christopher Joye. Rather than just fawning at every word he says and reprinting verbatim whatever he writes in the press releases, ask him some hard questions.”
[click to continue...]
VN:F [1.7.3_972]
Rating: 9.1/10 (20 votes cast)
VN:F [1.7.3_972]
Rating: +12 (from 12 votes)
by Kris Sayce on February 26, 2010
This morning we’re still chuckling away at Christopher Joye’s ‘revelation’ about the stock market being risky – 11.6 times riskier than cash apparently. Bless him.
We’re looking forward to his next bombshell. Maybe he’ll reveal to the world that water is wet! What? It is? [Shae, quick, get Einstein, Newton and Faraday on the phone right now. They've got some explaining to do!]
But thanks to Money Morning reader John, there’s something in yesterday’s email that we didn’t point out. Here’s the offending quote from Joye’s ‘Equity Finance for Home Owners: The Next Revolution in Housing Finance?’ paper that we quoted from yesterday:
[click to continue...]
VN:F [1.7.3_972]
Rating: 7.5/10 (11 votes cast)
VN:F [1.7.3_972]
Rating: +4 (from 6 votes)
by Kris Sayce on February 25, 2010
Before we get on to today’s Money Morning, we couldn’t pass up the opportunity to scoff at the further incompetence of government.
As you know, the federal government has spent billions on the stimulus package on the justification it will ‘create’ jobs. Well, now the insulation debacle has been cancelled, what else would a free-spending government do than spend more money to get people not to work.
As today’s Australian Financial Review (AFR) states:
“Mr Rudd said the government would commit $41 million to help firms keep staff on board until the new scheme kicks in, train workers who cannot stay or help those who are laid off to find new jobs.”
[click to continue...]
VN:F [1.7.3_972]
Rating: 9.1/10 (34 votes cast)
VN:F [1.7.3_972]
Rating: +19 (from 21 votes)
by Kris Sayce on February 23, 2010
We’ll poke a stick at property and inflation today.
Inflation, if mixed with deflation is fine. Prices rise, then prices fall.
But inflation by itself, well, that isn’t good at all. If you look at the chart below, you can see perfectly how the value of money has been devalued almost without break for the last fifty years:
Money devalued by 99.4%
According to the Reserve Bank of Australia (RBA) numbers on Money Aggregates, the M3 money supply has increased from the equivalent of $6.7 billion in 1959 to $1.19 trillion by the end of 2009.
[click to continue...]
VN:F [1.7.3_972]
Rating: 9.1/10 (18 votes cast)
VN:F [1.7.3_972]
Rating: +12 (from 14 votes)
by Kris Sayce on February 17, 2010
In today’s Money Morning we’ll give the Reserve Bank of Australia (RBA) a major serve. But before that, it’s appropriate to let you know about Jarrod and Seb’s next protest at the RBA.
Jarrod says they will be out the front of the RBA building at Martin Place in Sydney this Friday between 8am and 10am.
So, if you fancy going along to give them some support, feel free to do so, and let us know how you go by sending an email to moneymorning@moneymorning.com.au.
[click to continue...]
VN:F [1.7.3_972]
Rating: 7.6/10 (12 votes cast)
VN:F [1.7.3_972]
Rating: +6 (from 8 votes)
